This article was published on Oct. 15, 2025, at 3:16 p.m. on the ChosunBiz MoneyMove site.
Eden Asset Management's sale of the Pangyo Techno Valley GB1·2 towers it holds has begun in earnest. The GB towers are landmark assets located in the Pangyo area, the core business district of the Gyeonggi region. Located near Pangyo Station with excellent transportation access, they are large offices that have secured high-quality tenants such as Nexon and COSMAX, and are regarded as properties capable of generating stable cash flow.
According to the investment banking (IB) industry on the 15th, Eden Asset Management has begun preliminary marketing procedures to sell the GB1·2 towers it holds through the Eden Private Real Estate Investment Trust No. 10. Multiple potential buyers, including real estate asset management firms, have reportedly received a teaser memo (TM). Jones Lang LaSalle (JLL), the selling adviser, plans to distribute the investment memorandum to investors who submitted letters of intent (LOI).
The GB1·2 towers are office buildings located in the core of Pangyo 1st Techno Valley in Seongnam, Gyeonggi. GB1 Tower spans four basement levels to 11 aboveground floors, with a total floor area of 39,083 square meters. The anchor tenant of GB1 Tower is Nexon Korea, which leases and occupies all floors of the office. Because Nexon has provided its own employee cafeteria and multipurpose space for staff welfare, a future buyer can continue to use them as is, which is seen as an advantage.
GB2 Tower was completed with four basement levels to nine aboveground floors, with a total floor area of 18,596 square meters. Currently, Nexon, Nexon Networks, COSMAX NBT, and Alchera lease some floors. An industry source said, "The Pangyo area, which shows vacancy rates in the 0% range, has such high demand that it is difficult to find remaining leased space," adding, "However, GB2 Tower will soon have all floors available, so companies seeking headquarters are likely to be interested." The weighted average lease expiry (WALE) for the remaining lease period of GB2 Tower is about 1 year and 1 month.
Pangyo's Techno Valley is an area where medium- to long-term asset value appreciation is expected. It is the site of a semiconductor mega cluster, a core part of government-led artificial intelligence (AI) and semiconductor initiatives, and has been designated a fabless hub. There are also multiple transportation network boosts, including the full opening of GTX-A in 2028 and the opening of the Wolgot–Pangyo double-track railway.
The seller plans to sell GB1 Tower and GB2 Tower separately. GB1 Tower, which Nexon Korea leases in full, is being marketed to financial investors (FI) seeking stable rental income and price appreciation, while GB2 Tower is being offered to strategic investors (SI) that need headquarters, with teaser letters reportedly sent. Since the nearby Pangyo Tech One Tower recently transacted at about 33.2 million won per pyeong, the combined value of the GB1·2 towers is expected to exceed 400 billion won.
An industry source said, "Pangyo Techno Valley is home to more than 2,000 companies and has rental demand," adding, "In particular, because GB2 Tower will soon have all floors vacant, tapping from companies that need headquarters is expected to continue."